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INX:JPM, Jun 26, 12:47 UTC

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JPMorgan Chase unveils flagship NYC branch amid nationwide brick-and-mortar expansion

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Bankers punch transactions into tablet computers, spiffed-up ATMs handle most everything else, and comfy chairs invite customers to simply hang out — these are the hallmarks of a new flagship JPMorgan Chase (JPM) bank branch, in Midtown Manhattan, unveiled by the company on Tuesday. “This format is meant to be a flagship branch and a community center,” said Jamie Dimon, chief executive of JP Morgan Chase. “That expansion trail is thousands and thousands of jobs,” he added, noting the some 3,000 employees that the company plans to hire at new branches. Personal tablets and enhanced ATMs at the flagship branch allow bankers to leeway to interact with customers on their terms, said Jurida Dobruna, manager of the branch.

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Tuesday, June 18


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JPMorgan to convert Highbridge multi-strategy fund into a credit fund -spokesman

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SECTIONS. Home. Business. Markets. World. UK. Technology. Money. About Cookies On The Site. We use cookies to personalize and enhance your experience on our site. Visit our Privacy Policy to learn more or manage your personal preferences in our Cookie Consent Tool. By using our site, you agree to our use of cookies. JPMorgan to convert Highbridge multi-strategy fund into a credit fund -spokesman. (Reuters) - JPMorgan Chase & Co will convert its $2 billion Highbridge multi-strategy fund into a credit focused fund to better meet client appetite, a company spokesman said on Tuesday. One of the fund's four lead portfolio managers, Arjun Menon, who had focused on Asian stocks, will be leaving the fund, the spokesman said.

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JPMorgan Chase: JPMorgan expects RIL earnings growth to fall 15% on weakness in core business, Energy News, ET EnergyWorld

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Mumbai: Brokerage firm JP Morgan expects earnings growth at Reliance Industries (RIL) to decline 15 per cent this fiscal on weak refining and petchem margins. Last month, Morgan Stanley said that RIL’s earnings growth could halve in FY20, after the company delivered a steady 17 per cent CAGR in earnings between FY17 and FY19. “On spot spreads across refining and petchem, we see up to 15 per cent downside risk to our earnings estimates and likely more for consensus, which is higher than our estimates as of now,” JP Morgan said in a report. This assumes that there are no telecom tariff hikes to offset any core business weakness, and a 12-20 per cent tariff hike could offset core business weakness.”. However, the weakness in the core energy business – refining and petchem – is not likely to weigh on the stock price in the near term as investors continue to re-rate the consumer tech business higher.

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Friday, June 14


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JPMorgan seeking job candidate with bitcoin scaling tech knowledge, but asserts it’s doing nothing with actual bitcoin

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JPMorgan seeking job candidate with bitcoin scaling tech knowledge, but asserts it’s doing nothing with actual bitcoin. JPMorgan has posted a new job ad looking for a director with bitcoin tech know-how, but the investment banking giant is vehemently sticking to its "blockchain, not bitcoin" mantra. In the job posting for a developer at the director level, the firm said it is looking for someone with experience in bitcoin scaling solutions — such as Lightning — as well as other blockchain-related topics. But the firm unequivocally asserts the new hire wouldn't be doing anything with cryptocurrencies, specifically bitcoin, in an email to The Block. "It would be completely inaccurate to say or report that we are possibly exploring or considering doing any work with bitcoin or other public crypto currencies," a spokesperson for the New York-based firm said.

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Tuesday, June 11


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StockBeat - Beyond Meat Takes Fight to Rival, but JPMorgan Warns Shares Overcooked

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StockBeat - Beyond Meat Takes Fight to Rival, but JPMorgan Warns Shares Overcooked. The plant-based food company said its new version of its flagship vegan burgers would hit U.S. shelves this week, as it seeks to keep up the pace with rival Impossible Foods, which also rolled out an improved version of its own burger patty in January. But the outlook on Beyond Meat (NASDAQ:BYND) has been soured by a downgrade from JPMorgan to neutral from overweight, sending its share price down 21%. The bank said that it believes that the vegan upstart's "extraordinary revenue and profit potential" has finally been priced in and that its shares will remain sensitive to any disappointing news. Nestle said Tuesday it could expand its plant-based burger sales partnership with fast food chain McDonald’s (NYSE:MCD) beyond Germany or look to sign up other fast food chains.

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Saturday, June 08


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‘Goliath Is Winning.’ JPMorgan Chase Stock Is a Solid Bet Under Jamie Dimon

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Falling interest rates and a threatening economic slowdown bode ill for U.S. banks, and their stocks have fallen out of favor. JPMorgan had net income of $32.5 billion in 2018, more than any other U.S. company beside Apple. “The volatility of our results is very low over time—even, surprisingly, in businesses like fixed-income trading, where a large chunk of the revenues are consistent, year to year,” said Jamie Dimon, the JPMorgan’s chairman and CEO, in a recent interview.

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Friday, June 07


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JPMorgan Shuts Down Millennial-Focused Brand, but It’s Not Abandoning Young Customers

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One of the ongoing debates in finance is whether the large U.S. banks will succumb to low-cost, branchless, and "millennial-friendly" fintech upstarts, or whether the large established banks will be able to match these start-ups' digital offerings and beat them at their own game. JPMorgan Chase (NYSE: JPM), the largest U.S. bank, is right at the center of this debate. Although some may perceive JPMorgan as a stodgy 220-year-old company, it is aggressively investing in and experimenting with the latest digital tools to woo young customers. The company plans to spend $11.5 billion on technology this year alone -- far more than any start-up could on its own. However, JPMorgan just informed the investing public that it will be shutting down Finn, its digital-only (kind of) bank brand geared toward millennials and younger people. But don't fret that JPMorgan is losing the millennial customer. Other features of Finn included allowing customers to rate how certain purchases made them feel, along with more practical features like fee-free access to Chase ATMs nationwide. However, Finn only attracted some 232,000 customers in the past year, according to research firm Sensor Tower.

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Bank of Japan to Cut Negative Rate in September, JPMorgan says

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Bank of Japan to Cut Negative Rate in September, JPMorgan says. (Bloomberg) -- The Bank of Japan will lower its short-term interest rate to -0.3% from -0.1% in September to head off risks posed by an expected Federal Reserve rate cut, JPMorgan Chase & Co. said in a research note. Fed cuts are now expected in September and December after escalating U.S.-China trade tensions and President Donald Trump’s threat of tariffs on Mexico have raised the risk that global growth will deteriorate, said Hiroshi Ugai, chief Japan economist at JPMorgan. The BOJ would risk a sharp strengthening of the yen if it didn’t respond to the Fed’s move, Ugai said. Even before the recent U.S.-China flareup, a growing number of economists had begun to predict the BOJ would undertake additional monetary easing in the face of sagging growth and inflation. But relatively few thought that easing would take the form of a cut to the negative rate, which has been broadly unpopular in Japan.

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Thursday, June 06


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JPMorgan to shutter its smartphone bank account a year after nationwide launch

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JPMorgan to shutter its smartphone bank account a year after nationwide launch. June 6 (Reuters) - JPMorgan Chase & Co said on Thursday it is closing down its smartphone bank account called "Finn", which was aimed at young adults, a year after its nationwide launch. JPMorgan plans to fold the existing Finn accounts into its Chase mobile app and said credentials such as account numbers and passwords would remain the same. The move comes at a time financial institutions across the United States have been looking to grow their consumer banking businesses by roping in younger customers though smartphone banking, aiming to cross-sell other financial products to them as their earnings increase.

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Friday, May 31


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JPMorgan now sees two 2019 rate cuts after U.S.-Mexico tariff threat

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JPMorgan now sees two 2019 rate cuts after U.S.-Mexico tariff threat. NEW YORK, May 31 (Reuters) - JPMorgan Chase & Co, which previously saw an even chance the U.S. Federal Reserve would slash rates, on Friday said it now predicts two interest rate cuts by the end of the year. The new outlook from JPMorgan is in line with futures market pricing and comes after President Donald Trump said on Thursday the United States will impose a 5% tariff on all goods coming from Mexico starting on June 10 until illegal immigration across the southern border is stopped. The White House said the tariff could increase as high as to 25% by October, which JPMorgan said may require "much more" than a 0.50% reduction in the Fed's target rate.

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